FCA Hit With Record $105 Million Fine

I guess when it rains it pours — or it storms, if you’re Fiat Chrysler Automobiles right now.

On the heels of a major hacking story surrounding a Jeep Cherokee, which led to a recall of 1.4 million vehicles including Grand Cherokees and Cherokees, the company has now been hit with a record $105-million fine over safety recalls.

Prompted by the National Highway Traffic Safety Administration (NHTSA), the penalty stems from safety recalls involving millions of vehicles. It includes a consent agreement requiring the automaker to offer owners a trade-in or incentive to get those Jeeps, and thousands of other vehicles, repaired.

This is major news regardless of how you spin it, especially considering the previous record fine was $70 million, which was imposed against Honda in January, according to a Reuters report.

As part of the NHTSA agreement, FCA will bring on an independent audit of its recall for three years. But I’m betting we’ll be hearing a lot more coming out of this agreement in the weeks to come.

Chime in with your thoughts on the forum. >>

via [Reuters]